Sanctuary Advisors LLC Has $690,000 Stock Position in Kellanova (NYSE:K)

Sanctuary Advisors LLC boosted its position in Kellanova (NYSE:K) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,502 shares of the company’s stock after buying an additional 145 shares during the quarter. Sanctuary Advisors LLC’s holdings in Kellanova were worth $690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC boosted its position in shares of Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. grew its position in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Kellanova during the second quarter valued at about $39,000. Finally, Capital Advisors Ltd. LLC lifted its stake in shares of Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after buying an additional 158 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $80.57, for a total transaction of $9,231,952.31. Following the completion of the transaction, the insider now owns 50,024,523 shares of the company’s stock, valued at $4,030,475,818.11. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 1,031,247 shares of company stock valued at $83,322,466. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. StockNews.com initiated coverage on shares of Kellanova in a research note on Sunday. They set a “hold” rating for the company. Finally, BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.35.

Kellanova Price Performance

Kellanova stock opened at $80.82 on Wednesday. The firm has a market capitalization of $27.86 billion, a P/E ratio of 27.77, a PEG ratio of 2.59 and a beta of 0.38. The business has a 50-day moving average of $80.81 and a 200-day moving average of $73.61. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.34.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. On average, equities analysts anticipate that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s payout ratio is 78.35%.

About Kellanova

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.